Fitch: Emerging market weakness won’t create a global recession December 7, 2015 The world will avoid a global recession next year, despite weakness in emerging markets, a leading credit ratings agency has said – while the Federal Reserve will hike rates four times next year In fact, its forecast for next year paints a cautiously optimistic view of the world. Here's how it sees the world in [...]
US crude and brent oil prices recover losses after Opec holds production December 4, 2015 Oil prices recovered losses this afternoon, as the Organisation of Petroleum Exporting Countries (Opec) decided not to cut production at its key meeting in Vienna. Opec members seemingly failed to agree on an oil production ceiling, after the final statement was published with no mention of a new one, apparently allowing members to continue pumping oil at current rates. [...]
Saudi Arabia set to come under fire at OPEC meeting but not expected to back down over production levels December 3, 2015 Smaller nations are expected to put further pressure on Saudi Arabia to reduce oil production levels later today when cartel members meeting in Vienna. OPEC made the historic decision to maintained its production levels last year despite a more than 50 per cent fall in price over the past 18 months. City A.M. understands Saudi Arabia [...]
Polyus Gold is the latest Russian company to leave the London Stock Exchange today December 3, 2015 Russia's largest goldminer Polyus Gold leaves the London Stock Exchange today. Polyus was taken over by a shell company Sacturino, which is controlled by billionaire Suleiman Kerimov's family. Their company, Wandle Holdings, was the majority 40 per cent stakeholder in Polyus and completed its compulsory acquisition early in November. It's the latest in a flurry of Russian [...]
Russia levies Islamic state oil claims at Turkey December 2, 2015 Russia's defence ministry today claimed that it has proof Turkish president Tayyip Erdogan and his family were benefiting from the illegal smuggling of oil from Islamic State (Isis) held territory in Syria and Iraq. Deputy defence minister, Anatoly Antonov, said during a major briefing on new findings concerning Isis funding by Moscow: "Today, we are presenting only some facts [...]
London airport expansion: Business reacts to government “dithering” on Heathrow decision December 1, 2015 Business groups have responded with apprehension after the government pushed back the decision on whether to build a third runway at Heathrow until next week, and demanded urgent action. It was anticipated that the government’s decision on the controversial issue would come this week, but a senior transport source told City A.M. that the verdict is not [...]
COP21 Paris climate summit: Here are four things you need to know about climate change, from the global economic impact to fossil fuel subsidies December 1, 2015 World leaders are sitting down for a second day of talks in Paris, hoping to secure a strong deal at what has been billed as the most important climate summit for years. The eyes of the world are trained on the outcome, with hundreds of thousands marching worldwide on Sunday to demand stronger action on [...]
Sanctions will cost Turkey and Russia billions, IHS economists warn November 30, 2015 The Russian and Turkish economies will both suffer heavy losses after Moscow imposed economic sanctions in response to the downing of a fighter jet, a new economic report has warned. Turkey was a major beneficiary of sanctions imposed on Russia by the EU last year in response to its involvement in the annexation of Crimea in [...]
What got us talking this week – including the Autumn Statement, Syria, Black Friday and Arsenal’s injury crisis November 27, 2015 This week, we discovered we are all late-night, smartphone-using shopping addicts, as these three charts show. So sit back and relax, while we take you through what got us talking this week. George's marvellous medicine All eyes were on Westminster this Wednesday, as George Osborne delivered his Autumn Statement and Comprehensive Spending Review. In case you [...]
Labour leader Jeremy Corbyn facing revolt as shadow cabinet members back David Cameron’s plans for air strikes in Syria November 27, 2015 Labour leader Jeremy Corbyn has been put under more pressure as senior members of his shadow cabinet have threatened to resign over his stance on air strikes in Syria. Corbyn has written to Labour MPs to say he cannot support Prime Minister David Cameron's call to take military action in Syria against the so-called Islamic [...]